Requirement 1. Record the transactions in the company's journal. Explanations are not required. (Record debits first, then credits Exclude explanations from any journal entries. Round amounts to the nearest whole dollar) More info Begin by journalising the 2018 transactions, starting with the purchase of equipment on February 3 Feb 3: Purchased equipment for $22.000 signing a six-month, 12% nate payable Journal Entry Date Accounts Debit Credit Feb 3, 2018 Equipment 22.000 Notes payable short-term 22.000 Feb 28 Recorded the week's sales of $72,000, one-third for cash, and two thirds on account All sales Journal Entry Date Accounts Debit Credit Feb 28, 2018 Cash 24720 Accounts receivable Sales revenue Sales tax payable 2018 Feb 3 Purchased equipment for $22.000, signing a six-month, 12% note payable 28 Recorded the week's sales of $72,000, one-third for cash, and two-thirds on account. Al sales amounts are subject to a 3% sales tax Ignore cost of goods sold Mar 7 Sent last week's sales tax to the state Apr 30 Borrowed $220,000 on a four year, 6% note payable that calls for annual payment of interest each April 30 Aug 3 Paid the six-month, 12% note at maturity Now 30 Purchased inventory at a cost of $8,400, signing a three month, 6% note payable for that amount Dec 31 Accrued warranty expense, which is estimated at 60% of total sales of $520,000 31 Accrued interest on all outstanding notes payable Accrued interest for each note separately 2019 Feb 28 Paid off the 6% Inventory note, plus interest at maturity 30 Paid the interest for one year on the long term note payable Print Done